The global electrical steel market size is anticipated to reach USD 40.57 billion by 2025,expanding at a CAGR of 7.2% over the forecast period, according to a new report by Radiant Insights, Inc. The market is majorly driven by the growing demand for transformers in the energy industry on account of high requirement of electricity in the industrial and commercial sector across the globe. Increasing usage of electrical appliances in the residential and commercial sectors is expected to further propel the demand for transformers, thus, complimenting industry growth.
The demand for transformers is likely to increase owing to the increase in utilization of energy sources due to rising consumption of electricity and other new projects such as electric vehicle charging stations. Electrical steel is used to construct transformer cores owing to its properties such as electrical resistivity, strength, and hardness.
Download Free Sample Report @ https://www.radiantinsights.com/research/electrical-steel-market/request-sample
Favorable regulatory policies play a major role in the market growth. Regulatory bodies across the globe are largely focusing on augmenting energy efficiency and reducing losses in transformers. Increasing focus on energy conservation and reduction in carbon dioxide emission is anticipated to boost the product demand over the coming years.
Asia Pacific was the largest segment in terms of volume followed by Europe and North America in 2018. According to the International Energy Agency, Asia Pacific is the largest consumer of electricity and is expected to consume 46% of the world's energy by 2040. This is likely to fuel the demand for transformers, which in turn is expected to augment the market growth in the region over the coming years.
Market players are adopting strategies such as mergers & acquisitions and capacity expansions in order to increase their market share and to strengthen their presence. In September 2019, JFE Shoji Trade Corporation acquired Cogent Power Inc., a transformer core manufacturer in Canada. With the acquisition, JFE Shoji Trade Corporation is likely to enhance the product portfolio and the geographical presence.
Further Key Findings from the Report Suggest:
• Grain oriented electrical steel is anticipated to register a CAGR of 7.9% in terms of revenue over the forecast period, owing to growing demand from transformer cores. Increasing implementation of energy infrastructure in emerging economies is expected to propel transformer market demand over the forecast period.
• Motors segment is expected to witness a CAGR of 6.0% in terms of volume owing to rapid growth in electric vehicles. Increasing awareness regarding benefits of EV's and HEV's on a global level coupled with stringent emission standards being adopted by various regulatory bodies is expected to result in high demand for motors.
• Asia Pacific was the largest segment in 2018 accounting for a volume share of 40.2% in the electrical steel market owing to growing demand from the manufacturing industry. Government initiatives such as "Make in India" are expected to fuel market gowith.
• In April 2018, ThyssenKrupp announced to manufacture cold rolled grain oriented electrical steel at its plant in Nashik, India. The new addition in the product portfolio rises the production capacity to 35,000 tons annually. This was aimed to meet the growing demand for the product in the Indian market.
Browse Full Research Report with TOC @ https://www.radiantinsights.com/research/electrical-steel-market
Table of Contents
Chapter 1. Methodology and Scope
1.1. Market segmentation & scope
1.2. Market definition
1.3. Information procurement
1.3.1 Purchased database
1.3.2. Radiant Insights internal database
1.3.3. Secondary sources & third-party perspectives
1.3.4. Primary research
1.4. Information analysis
1.4.1 Data analysis models
1.5. Market formulation & data visualization
1.6. Data validation & publishing
Chapter 2. Executive Summary
2.1. Market snapshot
Chapter 3. Electrical Steel Market Variables, Trends & Scope
3.1. Global electrical steel market outlook
3.2. Penetration & growth prospect mapping
3.3. Industry value chain analysis
3.3.1. Technology trends
3.3.2. Manufacturing trends
3.4. Regulatory framework
3.4.1. Standard & compliances
3.4.2. Safety
3.5. Market dynamics
3.5.1. Market driver analysis
3.5.1.1. Rising demand for electric vehicles
3.5.1.2. Growth of energy industry
3.5.2. Market restraint analysis
3.5.2.1. Availability of substitutes
3.6. Business environment analysis: electrical steel market
3.6.1. Industry analysis - porter's
3.6.2. PESTEL analysis
Chapter 4. Electrical Steel Market: Product Estimates & Trend Analysis
4.1. Definition & scope
4.2. Product movement analysis & market share, 2018 & 2025
4.3. Market size & forecasts and trend analysis, 2014 to 2025
4.3.1. Grain oriented
4.3.1.1. Market estimates & forecast, 2014 - 2025
4.3.2. Non-grain oriented
4.3.2.1. Market estimates & forecast, 2014 - 2025
Continued…
Read all Reports of this category @ https://www.radiantinsights.com/catalog/materials
About Radiant Insights
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. It assists and facilitate organizations and individuals procure market research reports, helping them in the decisions making process. The Organization has a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, experienced research coordinators also offer a host of
ancillary services such as, research partnerships/ tie-ups and customized research solutions.
Media Contact:
Company Name: Radiant Insights, Inc
Contact Person: Michelle Thoras
Phone: (415) 349-0054
Toll Free: 1-888-928-9744
Address: 201 Spear Street 1100, Suite 3036,
City: San Francisco; State: California; Country: United States
Email: sales@radiantinsights.com
Website: https://www.radiantinsights.com/
The demand for transformers is likely to increase owing to the increase in utilization of energy sources due to rising consumption of electricity and other new projects such as electric vehicle charging stations. Electrical steel is used to construct transformer cores owing to its properties such as electrical resistivity, strength, and hardness.
Download Free Sample Report @ https://www.radiantinsights.com/research/electrical-steel-market/request-sample
 |
| Electrical Steel Market |
Favorable regulatory policies play a major role in the market growth. Regulatory bodies across the globe are largely focusing on augmenting energy efficiency and reducing losses in transformers. Increasing focus on energy conservation and reduction in carbon dioxide emission is anticipated to boost the product demand over the coming years.
Asia Pacific was the largest segment in terms of volume followed by Europe and North America in 2018. According to the International Energy Agency, Asia Pacific is the largest consumer of electricity and is expected to consume 46% of the world's energy by 2040. This is likely to fuel the demand for transformers, which in turn is expected to augment the market growth in the region over the coming years.
Market players are adopting strategies such as mergers & acquisitions and capacity expansions in order to increase their market share and to strengthen their presence. In September 2019, JFE Shoji Trade Corporation acquired Cogent Power Inc., a transformer core manufacturer in Canada. With the acquisition, JFE Shoji Trade Corporation is likely to enhance the product portfolio and the geographical presence.
Further Key Findings from the Report Suggest:
• Grain oriented electrical steel is anticipated to register a CAGR of 7.9% in terms of revenue over the forecast period, owing to growing demand from transformer cores. Increasing implementation of energy infrastructure in emerging economies is expected to propel transformer market demand over the forecast period.
• Motors segment is expected to witness a CAGR of 6.0% in terms of volume owing to rapid growth in electric vehicles. Increasing awareness regarding benefits of EV's and HEV's on a global level coupled with stringent emission standards being adopted by various regulatory bodies is expected to result in high demand for motors.
• Asia Pacific was the largest segment in 2018 accounting for a volume share of 40.2% in the electrical steel market owing to growing demand from the manufacturing industry. Government initiatives such as "Make in India" are expected to fuel market gowith.
• In April 2018, ThyssenKrupp announced to manufacture cold rolled grain oriented electrical steel at its plant in Nashik, India. The new addition in the product portfolio rises the production capacity to 35,000 tons annually. This was aimed to meet the growing demand for the product in the Indian market.
Browse Full Research Report with TOC @ https://www.radiantinsights.com/research/electrical-steel-market
Table of Contents
Chapter 1. Methodology and Scope
1.1. Market segmentation & scope
1.2. Market definition
1.3. Information procurement
1.3.1 Purchased database
1.3.2. Radiant Insights internal database
1.3.3. Secondary sources & third-party perspectives
1.3.4. Primary research
1.4. Information analysis
1.4.1 Data analysis models
1.5. Market formulation & data visualization
1.6. Data validation & publishing
Chapter 2. Executive Summary
2.1. Market snapshot
Chapter 3. Electrical Steel Market Variables, Trends & Scope
3.1. Global electrical steel market outlook
3.2. Penetration & growth prospect mapping
3.3. Industry value chain analysis
3.3.1. Technology trends
3.3.2. Manufacturing trends
3.4. Regulatory framework
3.4.1. Standard & compliances
3.4.2. Safety
3.5. Market dynamics
3.5.1. Market driver analysis
3.5.1.1. Rising demand for electric vehicles
3.5.1.2. Growth of energy industry
3.5.2. Market restraint analysis
3.5.2.1. Availability of substitutes
3.6. Business environment analysis: electrical steel market
3.6.1. Industry analysis - porter's
3.6.2. PESTEL analysis
Chapter 4. Electrical Steel Market: Product Estimates & Trend Analysis
4.1. Definition & scope
4.2. Product movement analysis & market share, 2018 & 2025
4.3. Market size & forecasts and trend analysis, 2014 to 2025
4.3.1. Grain oriented
4.3.1.1. Market estimates & forecast, 2014 - 2025
4.3.2. Non-grain oriented
4.3.2.1. Market estimates & forecast, 2014 - 2025
Continued…
Read all Reports of this category @ https://www.radiantinsights.com/catalog/materials
About Radiant Insights
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. It assists and facilitate organizations and individuals procure market research reports, helping them in the decisions making process. The Organization has a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, experienced research coordinators also offer a host of
ancillary services such as, research partnerships/ tie-ups and customized research solutions.
Media Contact:
Company Name: Radiant Insights, Inc
Contact Person: Michelle Thoras
Phone: (415) 349-0054
Toll Free: 1-888-928-9744
Address: 201 Spear Street 1100, Suite 3036,
City: San Francisco; State: California; Country: United States
Email: sales@radiantinsights.com
Website: https://www.radiantinsights.com/
No comments:
Post a Comment